The price reached the resistance zone formed by 148.450 and 149.00 levels. We get a bearish candle which tells us about possible reversal from this zone. It gives new selling opportunities based on the daily and hourly timeframes. RSI confirms the price reversal. MACD lines are going to support a downward movement. DMI confirms range market conditions. ADX line...
GBJPY is approaching its resistance at 148.83 (100%Fibonacci extension, horizontal swing high resistance, 78.6% Fibonacci retracement ) where it is expected to reverse down to its support at 147.58 ( 23.6% Fibonacci retracement, horizontal pullback support).
Stochastic (89, 5, 3) is approaching its resistance where a corresponding reversal is expected.
Good to be back, had a slight break from the charts & articles this weekend but we coming in full force this week!
Beginning with news this week, we can expect a lot of volatility to be seen for the Pound as we continue with BREXIT votes , as well as we will be seeing data releases for the Average Earning Index first quarter, retail sales, CPI data and the...
The pair has reached the upper trendline where we could see a bounce to give place to a new bearish wave. The pair couldn't go higher than this area for the past year and the candlesticks are already showing rejections to the mentioned area, will go short once the daily Stochastics cross eachother.
Here we are tracking a very similar move to before (see attached: "GBPJPY Shorts on Hourly Chart") on the hourly as bulls become exhausted and unwind their positions for the triple whammy votes this week.
Brexit continues as the driver of Sterling for now, on the UK side we have more votes coming next week so eyeballing a test of the lows beforehand. For those...
WELCOME TO DACAPITAL-TRADING!
GBPJPY FOREX BREAKDOWN 12 MAR 2019
Skyrocket in GBP Pairs, greed kicks in to people.
We need a pullback to the downside, too much pressure!
Bullish market need to turn bearish now!
ENTRY @ 147.110
SL @ 148.640 (150 Pips)
TP @ 144.860 (230 Pips)
RR: 1.50, use half of normal risk!
Symbol: GBP.JPY - British Pound / Japanese Yen
Timeframe: Weekly, Daily and 4 hour
Predicted Direction: Short
GBP.JPY - British Pound / Japanese Yen updates will be available in the comments section below.
We have a very similar setup to that in GBPNZD (see attached: "Expanding Diagonal in GBPNZD" for more information on the technical side as we will not be covering that here).
As expected the House of Commons rejecting the idea of a no-deal Brexit yesterday (although by default unless there are any changes we are heading for this outcome so it still remains in...
GBPJPY just retraced to its 0.618 spot, and will probably give an inside 4hr.
I'll be interesting in the breakout long as a confirmation entry.
One bad part of this trade is it'll be fighting against the gap, but in terms of 0.618,
I usually don't really care that much about "how it get to the 0.618 spot".
So I'm still willing to take this trade yo!
Bloomberg: U.K. Prime Minister Theresa May enjoyed a rare good day in Parliament, fighting off her opponents and winning the endorsement of British politicians to seek to delay Brexit day. The result on Thursday means her Brexit plan — which has twice been rejected by huge majorities in the House of Commons — is still in play. The House of Commons voted...